An altcoin project that focuses exclusively on cryptocurrencies just made the list of the top 100 crypto assets by market capitalization.

According to CoinGecko, a cryptocurrency called Secret (SCRT) has risen 97% in the past seven days, rising from around $ 4.50 to its current price of $ 8.87 at press time.

The rapid surge in SCRT outperforms Bitcoin and Ethereum in the same timeframe, which has increased by around 1% and 11%, respectively.

Source: CoinGecko

The altcoin’s market cap has skyrocketed to $ 1,310,576,878 at press time.

Secret switched from Enigma (ENG) to SCRT late last year, with Binance being the first major exchange to support the new cryptocurrency.

The platform’s original goal was to provide security to smart contract platforms like Ethereum.

However, since the transition, the network’s mission has also changed and Secret is now a decentralized proof-of-stake blockchain designed to support a new ecosystem of decentralized applications (DApps) to protect user privacy.

The platform uses the Cosmos SDK and Tendermint consensus protocol so users can revoke native SCRT governance tokens to protect the network and earn rewards.

To date, 13 decentralized applications are running in the Secret network.

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Annie

According to Dailyhodl

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